South African watchdog seeks penalty against K-LineStaff Writer | March 7, 2017
South Africa’s competition watchdog is seeking to fine Japan’s Kawasaki Kisen Kaisha (K-Line) as much as 10 percent of its annual revenue in the country for colluding on a tender for the transport of Toyota Motor Corp. vehicles, reports Reuters.
Shipping Action must be taken
The Commission said K-Line rigged bids with rivals between 2002 and 2013 to fix prices and divide the market for shipping from South Africa.
“South Africa is a strategic hub for the trade of goods in and out of the Southern African region. Any cartel by shipping liners in this region results in inflated prices for cargo transportation‚" said the Commissioner of the Competition Commission Tembinkosi Bonakele.
The Commission said K-Line was working with Mitsui O.S.K Lines Ltd, Nippon Yusen Kabushiki Kaisha (NYUKF) Ltd and Wallenius Wilhelmsen Logistics AS. ■